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<br />r!-\j <br />( )j <br />!II( <br /> <br />ITEM 7.1. <br /> <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />MAYOR & CITY COUNCIL \ <br />LORI JOHNSON, FINANCE DIRECTOR ~~ <br /> <br />FROM: <br /> <br />DATE: <br /> <br />MAY 26, 1994 <br /> <br />SUBJECT: PRESENTATION OF PRELIMINARY <br />SCHEDULES 1 & 2 - FIRE RELIEF <br />ASSOCIATION <br /> <br />Randy Sykes of the Fire Relief Association will be present on Tuesday to <br />discuss the Preliminary Schedules 1 & 2 which need to filed by August 1, <br />1994, in order to determine the benefit level for the Relief Association in <br />1995. Copies of the Preliminary Schedules are attached for your review. The <br />requested benefit amount is $2,400. The current benefit amount is $2,200. <br />The 1995 request does not require a City contribution. <br /> <br />e <br /> <br />As you know, the Fire Compensation Task Force is reviewing the possibility <br />of changing from a defined benefit to a defined contribution method of <br />payment. Because that change will not be made until later this year or early <br />in 1995, the Schedules 1 & 2 for the defined benefit method of payment still <br />need to be filed with the State by August 1. In order to eliminate some of the <br />last minute pressure to approve the Schedules late in July in order to meet <br />the August 1 deadline, the Relief Association requested that the Preliminary <br />Schedules be presented to the Council so that the Council's input could be <br />incorporated into the final schedules prior to their presentation to the <br />Council in late June. <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />